Westell Expects Lower 3rd-Qtr Revenue, Cuts 4th-Qtr Forecast
Aurora, Illinois, Dec. 28 (Bloomberg) -- Westell Technologies Inc., a maker of high-speed digital Internet-access equipment, said fiscal third-quarter results will fall short of earlier estimates, and the company cut its fourth-quarter outlook.
The company expects revenue in the period ending Dec. 31 of about $76 million to $78 million, it said in a press release distributed by PR Newswire. Westell blamed the slowing economy and weaker demand for its products. Revenue was expected to be $92.3 million, the average estimate of analysts polled by IBES International Inc.
Westell cut its revenue outlook for the fourth quarter ending March 31 to about $75 million to $80 million, less than the $120.7 million forecast by analysts.
The Aurora, Illinois-based company expects revenue in fiscal year 2002 ending March 31, 2002, to be $400 million to $450 million. Westell was expected to have $619.2 million in revenue for the year. It didn't give a revenue estimate for the current fiscal year. Officials at the company didn't immediately return a call seeking comment.
Westell also said it found a billing error related to a purchase order, which cut the company's first-quarter revenue and earnings per share.
Shares of Westell rose 9 cents to $4.50. They have fallen 58 percent this year.
Dec/28/2000 17:30 ET
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